Yicai:

The fast development of digital trade in recent years has initiated reforms in traditional trade forms and rules, becoming a new engine driving economic growth. What measures will MOFCOM take to advance digital trade development? Thank you. 

Wang Wentao:

I will answer your question. Currently, a new round of technological revolution and industrial transformation is advancing, and the boom of the global digital economy has given rise to digital trade characterized by digital ordering and delivery, with data as a key factor of production, and with digital services as its core. This is also a new trend in international trade. Some even say it will be a new engine for future trade growth. All kinds of trade negotiations now involve digital trade, and hence digital trade deserves close attention at present and in the future. 

China's digital trade has seen rapid growth in recent years. For example, about 2.5 trillion yuan of trade in services was achieved via digital means in 2022, a 78.6% increase compared with five years ago. As I mentioned earlier, cross-border e-commerce has also been thriving. Last year, the foreign trade volume of China's cross-border e-commerce reached 2.1 trillion yuan, a 30.2% increase compared with two years ago. The 20th CPC National Congress articulated the goal of accelerating China's transformation into a high-quality trader in three aspects, namely, trade in goods, trade in services, and digital trade. This has elevated the importance of digital trade to a new level. China has the world's largest number of internet users and relatively abundant data resources. Meanwhile, encouraging progress has been made as we have created several application scenarios. These have laid a solid foundation for us to develop digital trade. In other words, China's digital trade growth has a solid foundation, promising prospects, and ample potential. Looking ahead, we will seize the opportunity of digital trade development and accelerate its growth by focusing on the following four aspects:

First, we will strengthen top-level design concerning digital trade. Policy documents on promoting the opening-up and innovative development of digital trade are being drafted. In other words, we will issue policies at the national level to boost digital trade.

Second, we will enhance the development of digital trade platforms. We will implement measures to support the innovative development of national digital service export bases and enhance their strength, quality and size. We will also develop leading companies in digital trade, ensure the success of the Global Digital Trade Expo, and make steady progress in the construction of digital trade demonstration zones. Expos, demonstration zones, leading companies, and export bases are the means we need to develop digital trade.

Third, we will foster new business forms and digital trade models. We will proactively support the trade of digital products and continuously improve trade in digital services. We will also steadily promote the trade of digital technologies and proactively explore trade in data. We will intensify our efforts to use digital technologies to empower trade activities from start to finish and improve trade digitalization. Silk Road e-commerce is another way to build cooperation overseas, and it has proven popular in many countries. We will proactively develop Silk Road e-commerce and promote the sustained development of cross-border e-commerce.

Fourth, we will establish and improve governance systems for digital trade. We will step up the formulation of basic institutional arrangements and standardized systems for data resource property rights, transaction circulation, cross-border transmission, and security and protection. Digital trade has been involved in many high-standard international economic and trade pacts, such as the DEPA and the CPTPP. We will proactively promote the process of joining DEPA and CPTPP and constructively participate in formulating and negotiating international rules and standards. Digital trade is thriving, and many rules are yet to be determined. As a country with abundant digital resources and a vast digital economy, China is bound to be a key player in digital trade. We will proactively participate in formulating rules for digital trade, offer more Chinese solutions, and contribute more Chinese ideas to the sector. Thank you.